BidaskClub downgraded shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a report released on Thursday morning.

AMAT has been the topic of a number of other reports. Vetr upgraded Applied Materials from a hold rating to a buy rating and set a $60.07 target price on the stock in a research report on Monday, November 20th. B. Riley reiterated a buy rating and issued a $63.00 target price on shares of Applied Materials in a research report on Monday, November 13th. JPMorgan Chase & Co. boosted their target price on Applied Materials to $70.00 and gave the stock an overweight rating in a research report on Friday, November 17th. Zacks Investment Research upgraded Applied Materials from a hold rating to a buy rating and set a $64.00 target price on the stock in a research report on Tuesday, November 28th. Finally, Craig Hallum reiterated a buy rating and issued a $76.00 target price (up from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $61.22.

Shares of Applied Materials (AMAT) traded up $0.25 during trading on Thursday, hitting $53.45. The stock had a trading volume of 9,070,000 shares, compared to its average volume of 11,900,000. Applied Materials has a fifty-two week low of $33.09 and a fifty-two week high of $60.89. The stock has a market capitalization of $56,460.00, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.81. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. analysts forecast that Applied Materials will post 4.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Applied Materials’s dividend payout ratio is 12.62%.

In related news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,716 shares of company stock worth $16,218,746. Insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LeJeune Puetz Investment Counsel LLC purchased a new stake in Applied Materials during the third quarter worth $105,000. MPS Loria Financial Planners LLC purchased a new stake in Applied Materials during the second quarter worth $109,000. Wunderlich Capital Managemnt lifted its holdings in Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Applied Materials during the second quarter worth $134,000. Finally, First Personal Financial Services lifted its holdings in Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 79.76% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was published by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/applied-materials-amat-downgraded-by-bidaskclub-to-hold/1807289.html.

About Applied Materials

Analyst Recommendations for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with Analyst Ratings Network's FREE daily email newsletter.